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The report further established that an interesting sectorThe report further established that an interesting sector to look out for in the Indian Fintech start-up landscape is the P2P sector, with more than 80% of the P2P lending start-ups founded over the last three years. With more than 5

The report further established that an interesting sector

The report further established that an interesting sector to look out for in the Indian Fintech start-up landscape is the P2P sector, with more than 80% of the P2P lending start-ups founded over the last three years. With more than 50 million SMEs and growing, the quick access to capital, avoidance of tight regulations and credit checks, coupled with an unfriendly banking system has led to the rise of P2P lending start-ups, with players such as Instapaisa, Lendbox, Indialends and Faircent amongst others.

The number of crowdfunding platforms too has grown over the last few years and is set to increase drastically. While most of these platforms intend to serve a social cause, some also facilitate fundraising for other start-up initiatives. Some of the prominent start-ups in the sector include Wishberry, Milaap, RangDe and BitGiving amongst others. The study goes on to mention that along with the rising number of Fintech start-ups, a number of start-up accelerators too have emerged across India over the last three years aiming to create a Fintech focused ecosystem and these particularly include Start Tank, Startup Studio etc. It also highlighted the role of RBIs recently launched Unified Payments Interface (UPI) calling it a game changer for the banking and E-commerce sectors and seeing it as a significant step towards achieving the goal of Digital India.

Speaking about the report, Anand Subramaniam, Engagement Manager and Project Lead, Zinnov, says, "The financial services sector is undergoing a transformation with digitally enabled start-ups employing newer business and delivery models to compete with traditional enterprises. India is proving to be a hot-bed for Fintech start-ups. The conceptualization of the India stack and the goal of Digital India are further expected to augment the growth in the Fintech segment".

About Zinnov: Founded in 2002, Zinnov is headquartered in Silicon Valley and Bangalore. In over a decade they have built in-depth expertise in engineering and digital practice areas. They assist their customers in effectively leveraging global innovation and technology ecosystems to accelerate innovation and digital transformation. Zinnov helps their customers:

- Benefit by benchmarking their technology strategy and business models with best practices from peers and technology start-ups

- With large scale engineering and digital transformation through globalization and innovative engagement models